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Introduction stage is the first and the most important stage of product life cycle (PLC). Before introducing a new product in the market, a company carries out extensive research work. The stage comprises of product development, advertisement, survey, and correct pricing strategy. At this stage, a company does not focus on earning a profit, rather it focuses on brand promotion. Thus, both sales and profits are quite low at this stage. Huge investment is done on distribution and promotion so that a large number of customers can know about the product. Students often contact our experts for Introduction Stage and the Pioneer Advantage homework help, as we have huge experience in writing marketing assignments.
What is PLC?
Once a product is developed, it goes through four stages in its lifetime corresponding to the sales and profits that it will earn. The series of stages is known as the product life cycle. Predicting PLC with 100% accuracy is not possible but the skill is to assume it as accurate PLC as possible. Our Marketing Strategies: Introduction Stage and the Pioneer Advantage assignment help providers teach you the skill of assuming correct PLC.
There are four different stages of the PLC:
- Introduction Stage
- Growth Stage
- Maturity Stage
- Decline Stage
Introduction stage strategies
The management has to develop separate strategies for different stages of PLC. There are product strategy, pricing strategy, distribution strategy, advertising strategy, and sales promotion strategy. The product strategy is meant to offer a basic product. The pricing strategy uses cost-plus. The distribution strategy is meant to build selective distribution. The advertising strategy is developed considering product awareness among early users and dealers. The sales promotion strategy is meant to huge sales promotion for attractive trial.
Students often seek our Introduction Stage and the Pioneer Advantage homework help to prepare a strategy for each phase at the introduction stage. Developing the strategies needs a thorough research work and market survey. Our faculty members are expert in these activities, so they can complete your assignment in a very less time.
What does pioneer advantage mean?
Pioneers enjoy several advantages, as it is the first to hit the market when there are no challenges from competitors. Pioneers enjoy long-lived market share and probably the market leaders in their product segments, according to several market studies. However, this is not the scenario for every product. Some products enter the market and exit in the same year. For instance, the Coca Cola C2 failed to capture the market and died in the same year of its launch that is in 2004.
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Introduction Stage and the Pioneer Advantage assignment help
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